Cardiovascular Program Coordinator Course - CE-Module 8: Session 2

Video Transcription

Video Summary

Module 8, Session 2 of the Cardiovascular Program Coordinator Course is about Financial Management. The session covers the topics of Utilization versus Internal Costs, Hospital Response to Change, and Cost Avoidance. Utilization refers to the cost of services provided by the hospital, billed to the payer. Internal Costs are the expenses incurred by the hospital to render services, which affect operating margins. The video emphasizes the importance of evaluating the impact of projects on patient utilization and internal costs. Cost avoidance strategies involve reducing readmissions, decreasing length of stay, improving staffing models, decreasing complications, and avoiding unnecessary services. The example of a heart failure program demonstrates the potential cost savings and benefits of utilization avoidance strategies. The video also explains the concept of pro forma, which includes revenue and expenses projections for a project. Overall, the session provides insights into financial management strategies for healthcare organizations.

Keywords

Financial Management

Utilization versus Internal Costs

Hospital Response to Change

Cost Avoidance

Pro Forma